This thesis explores the potential risk implications that a large penetration of intermittent
renewable electricity generation-such as wind and solar power-may have on the future
electricity generation technology mix, focusing on the anticipated new operating conditions
of different thermal generating technologies and their remuneration in a competitive market
environment. In addition, this thesis illustrates with an example how risk should be valued at
the power plant level in order to internalize the potential risks to which the generators are …